Brooklyn Investment Group Has $1.12 Million Position in Chevron Co. (NYSE:CVX)

Brooklyn Investment Group boosted its holdings in Chevron Co. (NYSE:CVX) by 35.5% during the first quarter, Holdings Channel reports. The fund owned 7,053 shares of the oil and gas company’s stock after purchasing an additional 1,846 shares during the period. Brooklyn Investment Group’s holdings in Chevron were worth $1,122,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. American Capital Advisory LLC increased its position in Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after buying an additional 125 shares during the period. Bare Financial Services Inc acquired a new stake in Chevron in the 4th quarter worth about $27,000. Frank Rimerman Advisors LLC acquired a new position in shares of Chevron during the 4th quarter worth approximately $30,000. Valued Wealth Advisors LLC bought a new position in shares of Chevron during the fourth quarter worth approximately $33,000. Finally, Cooksen Wealth LLC acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity at Chevron

In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the sale, the director now owns 2,549 shares in the company, valued at approximately $416,761.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the sale, the director now directly owns 2,549 shares of the company’s stock, valued at approximately $416,761.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $45,540. The disclosure for this sale can be found here. Insiders sold 16,746 shares of company stock worth $2,727,971 over the last three months. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

CVX traded up $0.33 on Friday, reaching $155.59. The stock had a trading volume of 6,446,316 shares, compared to its average volume of 6,742,573. The firm has a 50-day moving average of $157.75 and a 200-day moving average of $155.06. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The company has a market capitalization of $286.75 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 2.36 and a beta of 1.10. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same quarter last year, the business earned $3.55 EPS. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Chevron Co. will post 13.18 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were issued a $1.63 dividend. The ex-dividend date was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.19%. Chevron’s payout ratio is 59.98%.

Analyst Ratings Changes

A number of brokerages recently issued reports on CVX. Raymond James increased their price target on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Scotiabank decreased their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research report on Friday. Truist Financial upped their price objective on shares of Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. TD Cowen raised their target price on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday, April 29th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.06.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.